The September Cattle on Feed report’s numbers where not good to be blunt. The numbers are as follows.
Cattle and calves on feed for the slaughter market in the United States for
feedlots with capacity of 1,000 or more head totaled 11.3 million head on
September 1, 2022. The inventory was slightly above September 1, 2021. This
is the second highest September 1 inventory since the series began in 1996.
Placements in feedlots during August totaled 2.11 million head, slightly
above 2021. Net placements were 2.06 million head. During August, placements
of cattle and calves weighing less than 600 pounds were 430,000 head,
600-699 pounds were 320,000 head, 700-799 pounds were 465,000 head,
800-899 pounds were 532,000 head, 900-999 pounds were 270,000 head, and
1,000 pounds and greater were 95,000 head.
Marketings of fed cattle during August totaled 2.00 million head, 6 percent
above 2021.
Other disappearance totaled 53,000 head during August, 10 percent below 2021.
Kyle Bumstead talks on the numbers and what they meant to the markets.